From Yahoo Finance: 2025-04-14 10:50:00

Wells Fargo’s Q1 2025 net income rose by 5.93% to $4.894bn, but total revenue declined to $20.15bn, down 3.39% from the previous year. Average loans decreased by 2% to $908.2m, while deposits saw a slight drop to $1.33bn from Q1 2024.

Consumer banking and lending revenue fell by 2%, attributed to increased deposit costs. Home lending remained stable, benefiting from higher mortgage fees. Credit card revenue increased by 2%, but auto lending dropped by 21% and personal lending by 10%.

CEO Charlie Scharf highlighted a 16% increase in diluted EPS, driven by fee-based revenue growth and expense discipline. Noninterest expenses decreased by 2%, offset by increased branch-related costs. The US CFPB dropped a lawsuit against Wells Fargo, JPMorgan Chase, and Bank of America regarding Zelle payment service handling.



Read more at Yahoo Finance: Wells Fargo reports 5.93% increase in Q1 2025 net income